Frequently Asked Questions


Billing & payment

Direct Debit Authorisation (DDA) GIRO application

  • Q:What do I need to do if I wish to pay my premiums by GIRO?

    A:

    We only accept eGIRO applications for Life, Incomeshield and Personal lines policies. Please apply via My Income Customer Portal (Navigate to Manage GIRO arrangements).

    For the products mentioned below, a hardcopy GIRO form is required. 

    Please contact us via your preferred mode of contact at income.com.sg/contact-us to request for a copy of the GIRO form.

    • Primeshield policies
    • CareSecure policies
    • HomeTeamNS
    • LUV and SAFRA policies where application was made online
    • Motor Products
    • Commercial lines Products
    • iMedicare policies

  • Q: How can I submit an eGIRO application?

    A:

    If you are buying a new Life or Personal lines policy, your adviser can trigger an email or SMS link for you to submit an eGIRO application.

    For existing Life, Incomeshield and Personal lines policies, you can submit an eGIRO application via My Income Customer Portal.

    If you have recently purchased a new Incomeshield policy, you can submit an eGIRO application via My Income Customer Portal after receiving your policy documents. 


  • Q:How do I complete the GIRO Application Form?

    A:

    If you are paying for your Life, Incomeshield and Personal lines policy premiums, please apply via My Income Customer Portal (Navigate to Manage GIRO arrangements).

    For other policy types where a hardcopy GIRO form is required, please ensure that the following fields on the “GIRO Application Form” are filled in:

    1. Policy Number
    2. Policyholder / Insured / Assignee's Name
    3. Policyholder / Insured / Assignee's NRIC (last 4 characters only)
    4. Relationship to Accountholder
    5. Bank Accountholder’s Name
    6. Bank Accountholder’s NRIC
      • For Foreigners, this will be the ID that the Bank Account is operated under.
      • For Companies, the Bank Accountholder’s NRIC must be the registered ID of the Company. This ID must correspond with the Accountholder’s Bank record.
    7. Bank Name
    8. Bank Account number
    9. Signature of the Bank Accountholder

    If any of the compulsory fields are incomplete, the GIRO form will be rejected.

    Any alteration on the form must be accompanied by a corresponding signature by the Bank Accountholder. 


  • Q:How will I know if the eGIRO setup is successful?

    A:

    If you have an email address registered with us, you will receive an email notification on the status of the eGIRO setup. 


  • Q:If I am not the bank accountholder, can I submit an eGIRO application?

    A:

    Both you and the accountholder will need to complete the application together for the accountholder to authenticate and authorise accordingly. 

  • Q:Why does Income Insurance require Policyholder to submit an original and completed DDA / GIRO Application Form?

    A:

    We only accept eGIRO applications for Life, Incomeshield and Personal lines policies. Please submit your application via My Income Customer Portal (Navigate to Manage GIRO arrangements).


    For the products mentioned below, a hardcopy GIRO form is required.  You may contact us via your preferred mode of contact at income.com.sg/contact-us to request for a copy of the GIRO form.


    Please note that an ORIGINAL GIRO form needs to be submitted as Banks require a wet inked signature on an ORIGINAL GIRO form to be submitted for their processing and approval.

    • Primeshield policies
    • CareSecure policies
    • HomeTeamNS
    • LUV and SAFRA policies where application was made online
    • Motor Products
    • Commercial lines Products
    • iMedicare policies 

  • Q:Can Income Insurance help to make the changes on my GIRO Application Form and re-send to the Bank for approval?

    A:

    No, we will not be able to make any amendments on the GIRO Application Form on behalf of the Bank Accountholder. Any amendments on the GIRO Application Form have to be endorsed by the Bank Accountholder. Correction fluid / tape is also not allowed.


    If you are paying for your Life, Incomeshield and Personal line policy premiums, please apply via My Income Customer Portal (Navigate to Manage GIRO arrangements).


    For other policy types, a hardcopy GIRO form is required. 


  • Q:How do I submit my GIRO application?

    A:

    We only accept eGIRO applications for Life, Incomeshield and Personal lines policies. Please apply via My Income Customer Portal (Navigate to Manage GIRO arrangements).


    For other policy types, a hardcopy GIRO form is required. 

    Please contact us via your preferred mode of contact at income.com.sg/contact-us to request for a copy of the GIRO form.


    Please mail the ORIGINAL GIRO Application Form with a wet inked signature to: Income Centre, 75 Bras Basah Road, Singapore 189557


    Fax and email modes are not accepted.

  • Q:How long does the GIRO application take?

    A:

    If you apply via My Income customer portal (Navigate to Manage > Manage GIRO arrangements) for your LIFE, IncomeShield and General Insurance policies, the Bank’s approval and setup will be done within minutes. 


    For other policy types, when we receive your fully completed application form, it may take up to 60 days to process the application. 


  • Q:Why is my GIRO application rejected when my bank account number was written correctly as per my bank record?

    A:

    The Bank Accountholder will need to contact their bank to obtain further details on the rejection.

  • Q:Can I pay all my policy premiums using GIRO?

    A:

    The majority of the policy premiums can be paid using GIRO. 

  • Q:Can I change the bank account to pay for my premiums?

    A:

    Yes, for Life, Incomeshield and Personal lines policies, please apply via My Income Customer Portal (Navigate to Manage GIRO arrangements).


    For other policy types, a hardcopy GIRO form is required. 

    Please contact us via your preferred mode of contact at income.com.sg/contact-us to request for a copy of the GIRO form. The new application may take up to 60 days to be processed and activated.


    We will continue to deduct the premium payment from the existing bank account until the new GIRO arrangement is approved. Policyholder and Bank Accountholder are advised to maintain sufficient funds in the existing GIRO bank account. 


  • Q:Can I set a payment limit for my GIRO deduction?

    A:

    Yes, the Bank Accountholder can set a payment limit for GIRO deduction through their bank. However, if you set a deduction limit, it might cause the GIRO deduction to fail if the premium due amount exceeds the limit specified.

    A notification letter will be sent to inform you to increase or remove the GIRO deduction limit when the limit is exceeded.

    For Example:
    You have two policies with premium amount of $313.75 and $113.15. You have also set a payment limit of $350 and $150 respectively with your bank.

    The GIRO deduction will fail due to "Amount Exceeded". This is because the total premium amount to be deducted is $426.90 ($313.75 + $113.15). The bank will take the highest limit that you have set on the billing organization as the payment limit. In this case, the payment limit is $350 which is lower than the total premium to be deducted of $426.90. Hence, the GIRO deduction will be unsuccessful.

  • Q:What is the date for GIRO deduction?

    A:

    The GIRO deduction dates are on the 6th or 18th of the month.


    If the 6th or 18th falls on a Sunday or Public Holiday, the deduction will be rescheduled to the next working day.


    For Life policies, if your premium due date is from the 1st to 15th of the month, it will be deducted in the current month. If your premium due date is after the 15th of the month, it will be deducted in the following month.


  • Q:Can I pre-schedule my GIRO commencement date to be different from my policy premium due date?

    A:

    No, we are unable to support the pre-scheduling of GIRO commencement date.

  • Q:Will there be any fees for unsuccessful deduction?

    A:

    We do not impose any charges for unsuccessful deductions. However, some banks will impose a service charge on the unsuccessful deduction. Please contact your bank on these charges (if applicable).  


  • Q:Why do I receive an SMS for GIRO approval?

    A:

    We do not send any SMS for GIRO approval. For some banks, like DBS, an SMS will be sent to notify their customers of the application status.


    If you are a joint account holder, you may also receive an SMS from the bank. You may contact your bank for more information. 


  • Q:Will I be getting any receipts for my premiums paid using GIRO?

    A:

    No receipts will be issued for GIRO deductions. Policyholders / Bank Accountholders can check if the deduction is successful in their bank statement or when the passbook is updated. The successful deduction will be identified as INS (for Insurance).

  • Q:Why is it that my GIRO deduction is unsuccessful when there are sufficient funds in my Bank account?

    A:

    The unsuccessful GIRO deduction could be due to a few possible scenarios. Some of the common GIRO deduction rejection reasons are as follows:

    • Existing GIRO arrangement is terminated
    • Bank account is closed
    • Deduction amount has exceeded the limit set
    • Change of bank account number

    As this involves confidential information, the banks will not disclose the reason to us. Hence, you need to contact your bank directly to seek their clarification. 


  • Q:Can I request to stop the GIRO deduction for my premium as I may not have sufficient funds in my bank account?

    A:

    Yes, you can request to stop GIRO deduction in the coming deduction date.

    Please call Income hotline or send an email to csquery@income.com.sg to inform Income Insurance of your request with the following information:

    • Policy number
    • Bank account number
    • Premium amount to be stopped
    • Deduction date

    The bank will charge a fee of $5 for such requests. You will also need to make payment for this fee at any of our branches before we process your request.

    Your request to stop the GIRO deduction will need to reach us at least four working days before the deduction date on the 6th or 18th. We would like to inform that we will not be able to process any requests received after the deadline. 


  • Q:I have a total of four policies that are deducting from the same bank account. Can I request to only stop the GIRO deduction for one policy?

    A:

    No, you are not able to stop the GIRO deduction for only one policy, any request to stop GIRO deduction will apply to all policies. If we receive your request to stop GIRO deduction for only one policy, all the remaining three policies will not be deducted as well. 


  • Q:How do I terminate the GIRO arrangement for my premium payments?

    A:

    You can terminate the GIRO arrangement for your premium payments via the following options:

    • You and / or Bank Account holder can authorise the termination by completing the “Cancellation / Termination of GIRO Arrangement Form”.
    • Bank Accountholder can terminate the arrangement directly with their bank.

  • Q:How long will it take for the GIRO arrangement to be terminated?

    A:

    When we receive the ORIGINAL “Cancellation / Termination of GIRO Arrangement Form”, it will take 7 to 30 days for the request to be processed.

    Please maintain sufficient funds in your existing bank account for the premium deduction until you receive our GIRO Cancellation letter confirming that the GIRO arrangement has been terminated.

  • Q:Can I fax the cancellation form to Income?

    A:

    We are unable to accept fax, email or photocopied form to terminate the GIRO arrangement. Please send us the ORIGINAL form for our processing.

  • Q:Will I receive any notification from Income when I terminate the GIRO arrangement?

    A:

    Yes, we will send you a letter to inform you on the cancellation of the GIRO arrangement and to make any premium payments directly to us.

  • Q:Can I repay my Life policy loan via GIRO?

    A:

    You can use GIRO for the policy loan repayment if:

    • Policy is not an Annuity product; or
    • Policy is not an Investment Linked Product.

    At the same time, your premium payment must also be deducted from the same GIRO account.

    You may setup the loan repayment via My Income customer portal (Navigate to Payment > Apply for Loan repayment arrangement). If your policy is not paid by GIRO, you will be prompted to setup GIRO for your policy premium via eGIRO at the same time.  


  • Q:Can I use a different bank account to pay for my Life policy loan?

    A:

    No, you will not be able to use a different bank account to pay for your Life policy loan. The bank account that you wish to use for the loan repayment must be of the same bank account as your premium payment. 


  • Q:How do I amend or cancel my Life policy loan repayment arrangement?

    A:

    You may amend or cancel your Life policy loan repayment agreement via My Income customer portal (Navigate to Payment > Amend/cancel policy loan agreement). 


  • Q:What is the frequency of this Life policy loan repayment deduction from my GIRO account?

    A:

    The Life policy loan repayment will be deducted on a monthly basis regardless of the policy premium payment frequency. 


    The deduction date for policy loan repayment is on the 6th of every month only. The monthly deduction will take place until the policy loan is fully paid. We will only attempt to deduct one instalment on each deduction date, regardless of whether the previous deduction attempt was successful or unsuccessful. 


    For Example:

    Your policy premium payment frequency may be deducted via your GIRO account on a quarterly / half yearly / annual basis. Your policy loan repayment will still be deducted via GIRO on a monthly basis.

  • Q:Can I request for a statement of the total premium paid for my Life policies?

    A:

    Yes, you can request for breakdown of the total premium paid. Please send an email to csquery@income.com.sg or call our hotline with the following information: 

    • Policy Number
    • Period required

    We can provide a statement of the total premium paid for the past 12 months for free. However, for each subsequent block of 12 months, it will be charged as follows:

    • For retrievals of payment made 1 to 10 years ago: $10 per year
    • For retrievals of payment made 11 to 20 years ago: $20 per year
    • For retrievals of payment made more than 20 years ago: $50 per year

    Please make payment of the applicable fees at any of our branches before we can process your request. Upon receiving your payment, we will prepare the statement to be sent to you within a month. 


  • Q:Can I request for a premium statement listing the total premiums I have paid?

    A:

    Yes, you can request a copy of the Premium Statement summarising the total premiums paid to Income for your life policies for the past 2 years.

    Please login to me@income to request for one (Navigate to Life Insurance Policies > Premium Statement).

    The premium statement will be ready for your downloading in Letters/Documents within 3 working days.